Wednesday, August 02, 2006

Pennsylvania Co-Conspirator Charged in Mortgage Fraud and ID Theft

Hasan Talib aka Hasan Shoatz, 33, Philadelphia, Pennsylvania, was charged by information with 3 counts of wire fraud, 5 counts of mail fraud, 1 count of bank fraud, 3 counts of aggravated identity theft and 2 counts of false statement in loan application. The charges are related to mortgage fraud, along with other criminal activity, that Talib is alleged to have engaged in along with Micah Solomon a/k/a “Curtis Oliver,” a/k/a “Reginald Pettaway,” 33, Cheltenham, PA.  Solomon was previously indicted.

According to the information, Solomon was the owner and/or operator of ZII Investments a/k/a Z2 Investments, a company that purported to be engaged in real estate transactions.  Talib was a partner and associate of Micah at ZII.

In or about August 2005, according to the information, Solomon, working through an individual identified only as W.L., had a loan application prepared for and individual identified as C.E. to purchase 228B S. Bonsall Street, Philadelphia, Pennsylvania.  The true C.E. lived in Massachusetts and was a victim of identity theft.  The loan documents stated that C.E. was the purchaser and was employed by ZII.  Long Beach Mortgage approved two mortgages for 100% of the purchase price totaling $285,000.  Tamika Pollard was paid to appear at the closing of the property and act as C.E.  Talib accompanied Pollard to the closing where Pollard claimed to be C.E. and fraudulently signed the settlement documents in the name of C.E. according to the information.  At the settlement, ZII received a check for $87,687.  Of those funds, Talib received $20,000 and Pollard received $4,000.  No mortgage payments were ever made.

The information further alleges that in September 2005, Solomon asked W.L. to prepare fake documents, including pay stubs and a W-2 for M.J., another victim of identity theft, to purchase property.  Solomon met with a real estate agent to purchase property at 6707 N. 7th Street, Philadelphia, Pennsylvania and introduced Talib as M.J.  The loan documents stated that M.J. was employed at ZII.  Citizens Bank approved a $277,349.09 mortgage loan.  An individual identified as A.J. appeared at closing with a fraudulent power of attorney for stolen identity M.J. and executed the closing documents.  No mortgage payments were ever made.

Charges in the information also relates to allegations that Talib was involved in a scheme using stolen identities and false information on loan applications to purchase and lease luxury automobiles.

If convicted Talib faces a maximum possible sentence of 256 years imprisonment, $5,700,000 fine, $1,400 special assessment, and 5 years supervised release.

mortgage fraud